Asian and minority banks
Published Online: 4 FEB 2013
Copyright © 2013 Blackwell Publishing Ltd. All rights reserved.
The Encyclopedia of Global Human Migration
How to Cite
Hum, T. 2013. Asian and minority banks. The Encyclopedia of Global Human Migration.
- Published Online: 4 FEB 2013
The United States has a long history of minority banks formed to meet the credit needs of populations excluded from mainstream financial institutions. For example, mutual aid associations such as the African Union Society, established in 1780, were the earliest form of a minority-owned financial institution, and black-owned banks became significant in numbers starting in the late 1880s (Immergluck 2004).
Keywords: Asia; capitalism; globalization; political economy; transnationalism; sustainable development